June 11, 2012
- in Uncategorized by schooloftrade
Monday Morning Prep for Professional Traders
Every new day is another opportunity to learn from the valuable clues hidden inside of every candlestick. This morning we look for clues from the people, the traders behind each move in the market, and their reasoning for it. Remember that every candlestick we see is the result of market sentiment from something in the market, and it’s up to us to find out where. —————————————————————————————
The James’ Report: Day Trading Strategies for Professional Traders
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– Risk on sentiment prevails following €100B Spanish banking sector aid agreement; initial impact was waning ahead of the NY morning.
– Components of China Trade Balance (exports/imports) show improvement
– China new Yuan loans shows RRR cuts are working
– Spain 10-year Govt bond unable to sustain sub-6.0% yield in session
– S&P: India may be first of BRICS nation to lose investment grade rating
– China new Yuan loans shows RRR cuts are working
– Spain 10-year Govt bond unable to sustain sub-6.0% yield in session
– S&P: India may be first of BRICS nation to lose investment grade rating
– Equity indices opened the session sharply higher amid Spain’s decision to seek aid for its banks and better than expected May exports data out of China. The gains for the session have been largely driven by banks in Spain, as some of the country’s large financial institutions opened the session higher by over 9%. Spain IBEX-35 is continuing to outperform, as the index opened higher by over 5%. Resource related companies are broadly higher (Xstrata, Rio Tinto and BP are trading higher by approx. 2%) on higher commodity prices. Amid the rebound in the European equity markets and announcement related to Spain, corporate bond market activity has picked-up on the session.
